WBS FY 2020 Earnings Report — Webster Financial Corporation Revenue & Financial Results | Market Cap Arena

Webster Financial CorporationWBS

FY 2020 Earnings

Reported February 26, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$1.3B	—	$1.4B	—	-10.6%
Op. Income	$280M	—	$487M	—	-42.5%
Gross Margin	80.7%	—	83.5%	—	-2.8pp
Net Margin	17.1%	—	26.6%	—	-9.4pp
EPS (Diluted)	$2.35	—	$4.06	—	-42.1%
Free Cash Flow	$359M	—	$278M	—	29.2%

Revenue Flow

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$248M
GROSS PROFIT	$1.0B
R&D Expenses	$0
Selling & Marketing	$14M
General & Administrative	$447M
SG&A Expenses	$461M
Other Expenses	$298M
Operating Expenses	$759M
Cost & Expenses	$1.0B
OPERATING INCOME	$280M
Interest Income	$1.0B
Interest Expense	$111M
Other Income/Expenses	$0
INCOME BEFORE TAX	$280M
Income Tax Expense	$59M
Net Income from Continuing Ops	$221M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$221M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$211M
D&A	$43M
EBIT	$280M
EBITDA	$323M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$248M
GROSS PROFIT	$1.0B
R&D Expenses	$0
Selling & Marketing	$14M
General & Administrative	$447M
SG&A Expenses	$461M
Other Expenses	$298M
Operating Expenses	$759M
Cost & Expenses	$1.0B
OPERATING INCOME	$280M
Interest Income	$1.0B
Interest Expense	$111M
Other Income/Expenses	$0
INCOME BEFORE TAX	$280M
Income Tax Expense	$59M
Net Income from Continuing Ops	$221M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$221M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$211M
D&A	$43M
EBIT	$280M
EBITDA	$323M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$221M
Depreciation & Amortization	$43M
Stock-Based Compensation	$12M
Deferred Income Tax	-$31M
Other Non-Cash Items	$266M
Change in Working Capital	-$130M
OPERATING CASH FLOW	$381M
Capital Expenditure	-$21M
Acquisitions (Net)	$0
Purchases of Investments	-$2.3B
Sales/Maturities of Investments	$1.6B
Other Investing Activities	-$1.6B
NET CASH FROM INVESTING	-$2.3B
Net Debt Issuance	-$1.8B
Common Stock Repurchased	-$77M
Common Dividends Paid	-$145M
Other Financing Activities	$4.0B
NET CASH FROM FINANCING	$1.9B
FREE CASH FLOW	$359M
Net Change in Cash	$5M

Balance Sheet

Item	Amount
Cash & Equivalents	$263M
Short-Term Investments	$3.3B
Net Receivables	$593M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$4.2B
PP&E (Net)	$227M
Goodwill	$538M
Intangible Assets	$22M
Long-Term Investments	$26.3B
Tax Assets	$81M
Other Non-Current Assets	$1.3B
TOTAL NON-CURRENT ASSETS	$28.4B
TOTAL ASSETS	$32.6B
Account Payables	$0
Short-Term Debt	$995M
Deferred Revenue	$0
Other Current Liabilities	$27.3B
TOTAL CURRENT LIABILITIES	$28.5B
Long-Term Debt	$701M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$24M
TOTAL NON-CURRENT LIABILITIES	$835M
TOTAL LIABILITIES	$29.4B
Common Stock	$937.0K
Additional Paid-In Capital	$1.1B
Retained Earnings	$2.1B
Treasury Stock	-$141M
Accum. Other Comp. Income	$42M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.2B
Minority Interest	$0
TOTAL EQUITY	$3.2B
TOTAL LIABILITIES & EQUITY	$32.6B
Total Debt	$1.9B
Net Debt	$1.6B